Editor’s note: This post was originally published in July 2024. The example scenario below uses appreciation and payment figures that were accurate at that time — the underlying math still holds, but if you want current numbers for your own situation, I’m happy to run a personalized analysis.
In my post How to Improve Your Odds of Getting YOUR Offer Accepted, I touched on understanding the numbers behind bidding wars, low appraisals, and commissions. It’s worth exploring in more detail — you may be surprised that bidding above list price doesn’t affect your payment as much as you’d think, since the added cost is amortized over the life of a typical 30-year mortgage. [Read more…]
The housing market in the Pacific Northwest remains competitive. Low inventory means that when a well-priced home hits the market, buyers often find themselves competing — and the difference between winning and losing a bid frequently comes down to preparation, not just price.
Fannie Mae and the Mortgage Bankers Association (MBA) released their monthly updated forecast for mortgage rates through 2025. This June update no longer shows predicted rates for the 30-year fixed conforming to hit the 5% range. MBA, who tends to be the most optimistic, forecasts that in the 4th quarter of 2025, we’ll see 6.0% for a rate with the homes of 5.8% in 2026.
The Existing Home Sales was released yesterday which reports on the closings of existing single-unit homes.
Washington is in the top 3 states for leading the country with the addition to accessory dwelling units!
